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- U.S. Home Prices Post Record 18% Annual Drop In October
Falling sales and rising foreclosures has chopped 18% from home prices in 20 major U.S. cities from Oct. 2007 to Oct. 2008, the fastest rate on record.
According to the S&P/Case-Shiller index, home prices in Phoenix, Las Vegas and San Francisco sunk the most - giving back 32.7%, 31.7% and 31.0% of their value in a year’s span, respectively.
The ocean-side metros of Miami, Los Angeles and San Diego followed, with respective declines of 29.0%, 27.9% and 26.7%.
Atlanta, Seattle … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. 
Переслать - Forex Trading: GBP/USD Trying To Find A Bottom
The GBP/USD is trying to find a bottom. The previous low for the year prior to yesterday (Monday) was 1.4466. The pair moved to a new low of 1.4381 yesterday but recovered back above the 1.4466 level in Tokyo trade. The pair has waffled above and below the key level since then and has recently moved back above after making a test to the downside. This may suggest that a bottom is in place.
I would look for intraday traders to use the 1.4466 level as intraday support and … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: EUR/GBP Testing Highs
Trichet’s comments, which were not as dovish as the market would like, has pushed the EUR/USD higher and has moved the EUR/GBP back toward the highs in the pair set yesterday (Monday) at 0.9798 (the high so far today has been 0.9797).
The trend remains bullish as 19 of 21 days (inclusive of today) have been up. Over that period the rate has moved from 0.8234 to 0.9798. A break of the 0.9800 level would be needed today to move higher but normally option trading may create a top … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Why A Gold Standard Is A Bad Idea
Inflation is coming…
For as long as I can remember, Jim Grant has never been a cheerful fellow. In fact, there was a standing joke in my office that after reading Grant you could cheer up by reading King Lear. The thinking in Grant’s latest missive in the WSJ runs parallel to my recent post Giving inflation chance that with the massive fiscal and monetary stimulus coming down the pipe, inflation is inevitable. Jim wryly notes that “Frostbite victims tend not to dwell on the summertime … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Holding On In This Environment? Nike Is 'Just Doing It'
Nike (NKE) recently reported second quarter earnings per share of $0.80, up 13% from last year and two cents above the consensus estimate of $0.78 per share. Although some of this growth was due to currency gains and a lower tax rate, Nike is still doing arguably well in an extremely tough macroeconomic environment. Nike is a large, geographically diverse company, so in order to get a real feel for how the Swoosh is doing, we need to break down the results. Nike categorizes their … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: USD/CHF Moves Back Toward The Closing Level From Yesterday
The USD/CHF has moved higher in early NY trade, back toward the closing level of yesterday (1.0621). The high so far has been 1.0636,but the price has since moved back down below the 1.0621 level. A move back above the level should solicit more short covering. A target would be the 100 hour moving average which comes in at the 1.0716 level.
Overnight, the UBS Consumption Index was released and came out weaker than expected. The reading came out at 0.96 for the month from … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Still A Large Spread Between Treasury Yield And Mortgage Rates
The Federal Housing Finance Agency is on CNBC talking about the US mortgage market. He says that there is still a very large spread between Treasuries and Mortgages. He commented that the yield declines in mortgages will be helped.
The chart below shows the weekly average 30-year mortgage, the 30-year treasury yield and the spread between 30-year mortgage and 30-year treasury (green line). The green line has been moving higher which indicates the credit spread added on to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Hong Kong Trading Rules To Change
There is an interesting story developing in Hong Kong that may spread to other equity markets. We ought to discuss it here. I’m sure the SEC would like to hear your views.
HK trading rules to changeHONG KONG - HONG KONG stock exchange said Tuesday it would push ahead with a new measure designed to make insider trading more difficult, despite massive opposition from listed companies and tycoons.
However, in a bid to allay concerns, the exchange decided to defer the implementation of the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Currency Update On The Canadian Dollar And Japanese Yen
In my November 6th post (”Obama Rally and Market Strategy”), I concluded with the following:
I’m also keeping an eye on the currencies. I sold our yen exposure back on the 24th when it spiked, leaving us with exposure to only the Chinese renminbi. I should have rolled the Yen exposure into the Canadian dollar at the time, but I missed it. The long-term fundamentals of the U.S. do not support its recent strength. The strong move in the dollar has been largely due to short-term … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - An ETF Portfolio To Profit From The Breakup Of The United States Of America
Predictably, a deep recession is time for the socialists, far left and other similar inspired zealots to gloat about the demise of capitalism in general and the United States in particular. Professor Igor Panarin took this opportunity to predict the demise of the United States. Here is an ETF portfolio which could profit from that scenario. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: Crude Rises, Treasury's Hit Record Low
Mid-East Violence Drives Crude Higher; IndyMac to be Sold by Year’s end; Retailers in for Tough Start to 2009; Six-month Treasury Rate Hits Record Low; Commercial Banks Report $6 Billion in 3Q Revenue
Crude prices rose back above $40 a barrel yesterday (Monday), as Israel and Palestinian forces exchanged fire and casualties mounted in the region. Light, sweet crude for February delivery rose $2.31 cents to settle at $40.02 a barrel on the New York Mercantile Exchange.
A group of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Lehman Brothers' Creditors Out Billions
Lehman Brothers sudden collapse left creditors with billions of dollars in losses. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Financial Meltdown: Bad Luck - Or Good?
Here’s a Chinese parable that I try to keep in mind. Good Luck Bad Luck! A farmer used an old horse to till his fields. One day, the horse escaped into the hills and when the farmer’s neighbors sympathized with the old man over his bad luck, the farmer replied, “Bad luck? Good luck? Who knows?” A week later, the horse returned with a herd of horses from the hills and this time the neighbors congratulated the farmer on his good luck. His reply was, “Good luck? Bad luck? Who knows?” Then, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Darwinian Effect Of Recessions
NEW YORK - Economic cycles are Darwinian, picking off weak companies and leaving survivors stronger. A year into the recession, solid retailers have their pick of mall space. Respected banks are getting an influx of deposits. Tech companies with money to spend are having an easier time hiring.
It has been a year of brutal losses. More than 1.2 million jobs have vanished. The broadest measure of the stock market, the Wilshire 5000, is down more than $7 trillion, a 40% slide. Corporate … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Israeli Attacks Raise Oil Prices
Fueled by uncertainty and heightened tensions between Israel and surrounding oil-rich Arab countries following the continued airstrikes by Israel on the Palestinian Gaza Strip, oil prices managed to trade up over $40 per barrel. Perhaps now the executives at Exxon Mobil (XOM) and Chevron (CVX) will send the Israeli government a nice “thank you” card.
Less than 2 weeks ago, oil prices had hit a multi-year low of $32.40 per barrel after dropping off a cliff from the mid-summer … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The $750 Billion Question
When history is written, the current US economic stimulus package will clearly receive a lot of attention. The $750 Billion question will finally be answered.
The question is if, when, and by how much will the stimulus positively impact stock prices and liquidity through increased bank lending? So far, the first indication is that the TARP has been a profitable investment with gains in preferred stock, warrants and troubled securitized loans. In other words, the amount of the bailout … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What Natural Gas Producers Will Do To Augment Prices, ETFs
Think about OPEC and all the good times the group has brought us oil consumers. Now Russia and another dozen or so members are in the nascent stages of forming a global natural gas price-setting organization that will be an additional benefit for energy-exporting countries and natural gas related exchange traded funds (ETFs).
Officials from member countires, Algeria, Bolivia, Brunei, Venezuela, Egypt, Indonesia, Iran, Qatar, Libya, Malaysia, Nigeria, the United Arab Emirates, Russia, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - More Bad Choices
Politicians are notorious for taking the easy way out — adopting short-term-oriented, seemingly painless “solutions” that usually end up costing taxpayers far more in the long run than those choices that involved brutal honesty and tough decisions up front.
Such a mindset explains, among other things, elected officials’ penchant for debt-driven spending and costly promises (read: pensions) that tend not to be fully accounted for until some point far in the future.
Under the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Get Poised To Profit from More Retail Store Closings After The Holidays
It was a nightmare of a year for the retailers in 2008. It doesn’t look like the start of 2009 will be much better for them. After a whopping 160,000 stores closed in 2008 I am expecting many more closings to follow in January and February.
You see, many of these “ailing retailers” won’t tip their hand that they are about to fold until they’ve raked in every last cent they can from the Christmas and after Christmas sales. Once this rush dies off by the end of January, we will see the next … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How Hard Times At eBay Could Hurt Internet ETFs
Auction sites and the exchange traded funds (ETFs) that hold them are seeing hard times and a not so holly-jolly Christmas.
This holiday season has seen a decline of shoppers on auction sites like eBay (EBAY) and a trend towards the more speedy and convenient fixed-price sites, like Amazon (AMZN). In fact, weekly traffic on eBay fell 16% between Nov. 3 and Dec. 14 and increased by 6% on Amazon as compared to a year ago, states Christopher Lawton of The Wall Street Journal.
One … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Worst Market Predictions Of 2008
It was February 2007 when we warned of the coming subprime collapse and the impending doom that we’re now party to. And even though the warning signs were clear as day, elected officials were blind and instead offered the following.
And if you think the following quotes are funny, bad, or just outright maddening, check out our report on the Culprits of the Financial Crisis.
As reported by Yahoo:
“Here are some of the worst predictions that were made about 2008. Savor them - a … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Bond Market's Glimpse Into 2009
On Friday, Treasuries posted their first weekly loss since October - even as Middle East tensions pushed yields up again. As the year draws to a close, Treasuries have come out as the clear asset-class winner in 2008.
But they may have reached their peak in popularity when investors rushed to get a 0% yield. The rest of the market hasn’t been so popular. The Dow (^DJI), S&P 500 (^GSPC), and Nasdaq (^IXIC) are all down more than 36% for the year.
Unfortunately, just because … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Long-Term Structure Of The British Pound
Per reader request, I was encouraged to provide a “Long Term Structure” post on the British Pound Index, which is presented in this post. Let’s compare the monthly chart from 1986 to present, and then zoom in on the weekly chart from 2000 to present for possible insights, both from an analytical standpoint and FOREX strategy standpoint.
Monthly Chart of the British Pound Index ($XBP):
What immediately leaps off the chart is the absolute devastation that has occurred in 2008, when … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Gold And Geopolitical Turmoil
Israeli armed forces continue to attack Hamas targets in the Gaza Strip and may be preparing for a possible invasion after killing 300 Palestinians in three days of attacks.
Israel says that the military action is in response to ongoing rocket and mortar fire that intensified after Hamas, the Islamist group in charge of the enclave that Israel quit in 2005, ended a six-month ceasefire a week ago.
Meanwhile, political tensions between India and Pakistan also continue to heat up amid … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Washington Mutual's Dirty Laundry
Here’s another great story on the mortgage meltdown.
And while 2008 was certainly one we would all like to forget, it is important to remember the greed, fraud and stupidity that made it all possible.
Because the truth is it all could have been stopped in 2005–but it wasn’t.
So the insanity of the housing bubble went on for years-long after it should have ended. Unfortunately, all that is left now is the pain of its greed.
In the meantime here’s another great look at how the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Pre Market: Oil Prices
The stories, data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Revealing Intraday Patterns In The DIA
I could write a lengthy synopsis of the trading activity in today’s (Monday, Dec 29, 2008) market because there were so many fascinating examples of price action concepts (and patterns), but let’s focus on the key points and delve into the intraday structure in today’s DIA (DIA) action.
DIA (Dow Jones) 5-min chart:
The day began just above $85 per share and then plunged almost non-stop from there, forming a large momentum swing down which created a new momentum low just after … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How Safe Are Bond ETFs?
It’s been an unusual year that has caused investors of all types to re-examine the old ways of thinking when it comes to their exchange traded funds (ETFs). Typically, bonds have been seen as “safe,” but some got burned in that thinking.
In fact, bonds of all types took their licks this year. Tara Seigel Bernard for The New York Times explains that even though the bond market did not take a 40% decline like the general stock market did, they did suffer losses. Treasuries remained the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Monday's Stock Market Recap: Uncertainty And Unease
Monday proved to be a day of unease and uncertainty among markets, as fighting in the Middle East continued. The Dow Jones industrial average (^DJI) closed at 8,483 points, and lost 31 points for the day. The Nasdaq Composite index (^IXIC) fell 19 points to close at 1,510, while the S&P 500 index (^GSPC) declined 3 points and finished trading at 869 points. Demand for bonds increased sending prices higher. The yield on the 10-year Treasury went down to 2.12% from 2.14%. In other … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Not Seeing That Small Is Big - And Hurting
Many Americans would probably be surprised to learn that small businesses matter more to the U.S. economy than the corporate behemoths that comprise the S&P 500.
In fact, small businesses account for more than 50 percent of U.S. nonfarm private gross domestic product and employ roughly half of all private-sector workers, according to Small Business Administration data.
Unfortunately, individuals who really should be aware of this fact - politicians and other public … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Kuwait Dumps Dow Chemical, Putting Rohm & Haas Deal At Risk
The Dow Chemical Co. (DOW) may be forced to abandon its takeover of Rohm & Haas Co. (ROH) now that a $17.4 billion joint venture with Kuwait’s state-run oil company has been scrapped.
Kuwait’s Petrochemical Industries Co. earlier this week cancelled plans to take a 50% stake in Dow’s plastics unit amid pressure from government officials alarmed by plunging oil prices.
The venture would have created the world’s largest maker of polyethylene - a chemical used in wide array of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - For The U.S. Economy In The New Year, The Pain Will Precede The Promise
If there’s a proverb that captures the outlook for the U.S. economy in the New Year, it’s the one that says: “It’s always darkest before the dawn.”
Regardless of any formal announcement of whether or not the United States drops into an actual recession, the ongoing credit crisis guarantees a contraction of the American economy by virtually every measure we know. That period of darkness will be marked by a dramatic slowdown in economic activity, as well as by rising unemployment, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Two Factors Impacting Mexico And ETF
Retail sales in Mexico are flatlining, as the numbers fell for the second straight month since October, giving investors and exchange traded funds (ETFs) a reason to feel edgy.
Just as in the United States, consumers in Mexico are not buying household items such as appliances or clothes, and the service sector is giving out along the way and has slowed substantially. The bloodline for the Mexican economy is the service sector, which makes up around 60%.
Jason Lange for Reuters … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - ISEE Equity Call To Put Ratio At Highest Level In 16 Weeks
The ISEE equity call to put ratio hit a 16 week high of 189 on Friday, as investors showed a strong preference for calls over puts. Today (Monday) that ratio is even higher, at 215 as of 11:30 a.m. ET.
Trading is light so far and extreme values in the ISEE have a tendency to revert to the mean (146) as the day wears on, but coming on the heels of Friday’s high number, I believe the ISEE numbers should bear watching throughout the day.
For the record, the last time the ISEE equity … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Shift In China Trade Policy Could Accelerate Western Steelmakers' Slump
The steel business faces its biggest hurdle in 60 years with some analysts predicting double digit production cuts in 2009. Now, a sudden change in China trade policy may spell even more trouble for Western steelmakers, as Beijing is currently considering measures to shore up its ailing steel industry with new export policies.
According to World Steel Dynamics, a U.S. steel consulting firm, steel production could fall next year by 13.9% compared with this year. This downturn comes … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Free Cash Flow, Tax And Capital Expenditures
I wanted to add some additional points on FCF (free cash flow) which I brought up in analyzing the Statement of Cash Flows before moving onto the future posts on balance and income statements.
Tax Adjustments
If a company receives a tax deduction when employees exercise their stock options, does this count as cash from operating activities? Or if the company defers its income taxes to a later period, does this count as cash from operations? I don’t think so.
The FCF is supposed to be … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Stock Market Analysis: Looking Towards January
I expect volume to remain below average until Jan 5. Many portfolio managers have closed the books and there is very little news scheduled for the next 7 days. January should be interesting. There may be excitement heading into the inauguration. It would not surprise me to see some type of Obama rally. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Ten US Municipal Bankruptcies Expected In 2009
After a disaster of a year, 2009 isn’t shaping up to be a walk in the park either. Sure, Option ARM resets will wreak havoc on defaults and foreclosure rates, but that’s the least of our concerns.
Now, the accountant (who predicted the 1994 Orange County bankruptcy) believes we’ll see up to 10 municipal bankruptcies in 2009. And if that happens, we could watch as the $2.7 trillion market for state, county and city debt is shattered.
In 1994, John Moorlach warned that Orange … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Emerging Markets - Especially BRIC Economies - "Bottoming"
Emerging markets investors have always had famed investor Jim Rogers on their side. Now - after the bubbles of China, India, Latin America and more have popped - they can take comfort in the word of investor Mark Mobius, who said emerging markets are “bottoming” en route to a bull phase in 2009.
In a recent interview with Bloomberg Television, Mobius said there are “terrific bargains all over the place” and his biggest holdings are in Asia, adding that he is “aggressively” purchasing … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Yahoo! Without Yang
Yahoo! (YHOO), a now jaded internet name, once was known as the best portal offering several services for the emerging internet population back in the mid 90s. It has now fallen off the face of the Earth. Yang’s departure, announced on November 17th, signals the end of an era, and possibly the end of Yahoo! as we know it. Anyone following the stock market news this year knows that the future of the search engine has been in limbo since early this year with Microsoft’s … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Baskin-Robbins To Offer Healthier "BRight Choices"
Ice cream chain Baskin-Robbins announced today that they will begin offering light and reduced fat, no sugar ice cream choices, fat free yogurt, and dairy free sorbet under the label “BRight Choices” starting today. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Oil Prices Rebound On Middle East Conflicts
Investor fears over supply disruptions in the Middle East due to Israeli/Palestinian tension led the way for crude prices to settle above $40 a barrel this session. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Stocks Fall, Dow Chemicals Leads Decline
With low volume and no economic data investors focus on Dow Chemical which has so far seen shares drop nearly 20% as a deal with Kuwait falls through. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Oil Rally Lifts Asian Stock Markets
Crude oil’s recent rally due to Middle East tension paved the way for oil producing and oil exporting companies to post large gains within their markets this past trading session throughout Asia. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Commodity Rebound Holds Down The Dollar
The US dollar softened this past trading session as a rise in commodities and commodity currencies held the greenback down in trading against both the euro and yen this session. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: American Apparel Tries On A New CFO
Clothing retailer American Apparel (APP) annouced today that there will be a new CFO & executive VP in Adrian Kowalewski in hopes that he will reverse the company’s recent stock price slump. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: GBP/JPY Reaches New Lows Today
The GBP/JPY reached a new mult year low today at the 131.66 level. This is the lowest level since May 1995 when the pair hit a low of 131.58. The low going back to 1978 has been 129.32 which was hit in April 1995. Another key level to watch on the downside is 130.87. This is the low close for the pair also reached in April 1995.
The decline from the high set in July 2007 at 251.09 has been dramatic and historic in terms of the speed of the decline. The decline was … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: British Pound Remains Depressed Against All Major Currencies
The pound remains depressed against all the major currency pairs (EUR, JPY, CHF and the USD).
Against the USD, the GBP/USD remains above the lows set on Dec 4th at the 1.4466 level but traded at the lowest level since December 8th today. The low today has been 1.4570, The close on Friday at 1.4652 was the lowest close in the GBPUSD since June 10th 2002. The market today will need to move above this level today to turn some of the sentiment to the upside (i.e. suggest a … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Why Crude Oil Will Present Investors With A Golden Opportunity In 2009
Oil prices have fallen 70% since hitting a record $147.27 a barrel in July, which means in just five months, crude has given up all the price gains it made in the past four years.
After such a wrenching plunge, many analysts believe the outlook for the “black gold” remains bleak - and in the short term it certainly is. In the long run, however, dwindling supplies, resurgent demand, and a lack of investment will cause crude oil to double, triple, or even quintuple in price over the next … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - IndyMac Close To Getting Bought By A Group Of Private Investors
According to Reuters, assets of the failed mortgage lender IndyMac Bank (IDMCQ.PK) may be bought by a consortium of private equity and hedge fund firms.
The prospective buyers include New York-based private equity group J.C. Flowers & Co., run by billionaire and former Goldman Sachs (GS) partner, Christopher Flowers. Dune Capital Management, a firm launched in 2004 as a spin-off of Soros Capital Management, when it restructured, and led by former Goldman Sachs executives Steven … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: USD/CHF Moves Lower On Flight To Quality Into The Swiss Franc
The Swiss Franc (CHF) benefited overnight on the Israel war tensions. The USD/CHF is looking to test the lows from December 18th at 1.0410. The low today has been 1.0422 with a couple of lows at this level. Clearly a break below this level will trigger additional selling in the pair.
On the upside, the 38.2% retracement of the days range comes in at the 1.0520 level. Above that is the midpoint of the days range at the 1.0552 area. This level also corresponds with … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: EUR/USD Hit In NY Trading After An Earlier Rally
The EUR/USD was hit in early NY trade after a rally overnight. The low for the day occurred shortly before the opening at the 1.4063 level. The high for the day reached 1.4363. The market will probably continue to trade in a volatile fashion today as news and illiquid end of year conditions continue to dominate the action. On a technical basis, the trend consistent trend higher today suggests that higher levels will be in store. The first level of support on an … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Asian Growth Can't Save Companies
Despite economic growht in Asia and China companies that invested heavily in the region find it is not offsetting weak sales in North America and Europe. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Last Week's Financial Headlines: 2009 A Catastrophe
Investors spent the holiday-shortened Christmas week in an un-merry mood, digesting more gloomy economic data and taking stock of a tumultuous 2008.
With the S&P 500 Index and the Dow Jones Industrial Index down by 35.8% and 40.6% respectively for the year to date, many investors would be anxious to wave the old year goodbye. But changing the calendar digits from ‘08 to ‘09 will regrettably not make an iota’s difference to the perilous nature of the investment environment facing … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Looking Back On Buffett's Predictions For 2008
CNBC.com published a list of Warren Buffett’s “Eight Predictions for 2008″ and hinted that “Nine Predictions for 2009″ might be coming out soon, but I thought it would be interesting to view Buffett’s predictions and wisdom now that 2008 has finally come to a close.
View the article for all predictions, but I wanted to cull out some of the wisdom quotes for your enjoyment.
Buffett’s first prediction was that “Recessions cannot be avoided forever” and he noted that if unemployment … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Three New ETFs For The Socially Conscious Investor
If you’ve been looking for more socially conscious exchange traded funds (ETFs) to add to your portfolio, your day could be coming soon.
Pax World Funds, based in New Hampshire, plans to list three such ETFs on NYSE Arca, according to a filing with the Securities and Exchange Commission (SEC) last week. Andrew Coen with Investment News says the three funds will be:
sShares FTSE Environmental Technologies Index
sShares KLD Europe Asia Pacific Sustainability Index
sShares KLD North … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - 2009 US Stock Market Outlook: Cautious Optimism
Happy Holidays! I’ve been receiving an avalanche of emails from readers wondering if there are any opportunities or anything good that will result from the current crisis on Wall Street.
Call me a perma-bull, but I am cautiously optimistic on the stock market for 2009.
For starters, my wife is Chinese, so every December she tells me the prediction for the upcoming Chinese New Year. (Even if it’s superstitious, it helps my standing with the in-laws.)
So here we go…
2009 is the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Outlook Of The Financials
Highlighted stocks include Huntington Bancshares Inc. (HBAN), MGIC Investment Corporation (MTG) and MBIA Inc. (MBI).
Even though it appears that financial institutions have moved ahead with respect to the unfreezing of our banking system, they remain reluctant to lend. With financial institutions afraid of the potential of additional losses, their current Anaconda grip on lending only exacerbates the problem.
While we continue to see financial institutions advertise their … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - In The Realm Of Shill-Dom And The Criminally Corrupt
I’d be the first to admit that I’ve made plenty of mistakes and bad predictions in my time. In most cases, I let ego or inexperience get in the way of good judgment, though sometimes it has been a matter of not having enough information.
Regardless, some of the forecasts highlighted by BusinessWeek in an article entitled “The Worst Predictions About 2008″ reflect more than just bad decision-making. In my view, they are in the realm of shill-dom and the criminally corrupt. See … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Is It Time To Re-enter Commodities With ETFs?
After the free-fall this year, could it be time to buy commodity exchange traded funds (ETFs) again?
On average, the typical diversified natural resources fund has bombed out on average of 56% this year, taking away any gains made since 2005, says Eric Roseman for MoneyShow.
Commodities, and the funds that tracked them, were the summer of 2008’s little darlings, with oil, base metals and soft commodities in huge demand. The recent losses are tremendous, leaving many investors … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать
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